Hologic (NASDAQ:HOLX) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Hologic (NASDAQ:HOLX) issued its quarterly earnings data on Wednesday. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02, Briefing.com reports. The company had revenue of $852.40 million during the quarter, compared to analysts’ expectations of $836.91 million. Hologic had a negative net margin of 0.89% and a positive return on equity of 27.62%. Hologic’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 earnings per share.

HOLX stock traded down $0.58 during midday trading on Friday, reaching $50.25. The company had a trading volume of 1,535,067 shares, compared to its average volume of 1,795,929. The company has a quick ratio of 1.02, a current ratio of 1.45 and a debt-to-equity ratio of 1.31. Hologic has a 1 year low of $37.47 and a 1 year high of $52.19. The company has a market cap of $13.74 billion, a P/E ratio of 22.53, a P/E/G ratio of 2.37 and a beta of 0.74. The company’s 50-day moving average is $48.47.

In other Hologic news, insider Peter J. Valenti III sold 4,545 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $44.07, for a total value of $200,298.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in HOLX. FMR LLC grew its stake in Hologic by 419.2% in the 1st quarter. FMR LLC now owns 13,264,384 shares of the medical equipment provider’s stock worth $641,996,000 after buying an additional 10,709,693 shares in the last quarter. American Century Companies Inc. purchased a new position in Hologic in the 4th quarter worth approximately $104,871,000. Norges Bank purchased a new position in Hologic in the 4th quarter worth approximately $75,662,000. Janus Henderson Group PLC grew its stake in Hologic by 1,210.3% in the 1st quarter. Janus Henderson Group PLC now owns 916,994 shares of the medical equipment provider’s stock worth $44,382,000 after buying an additional 847,011 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in Hologic by 230.9% in the 1st quarter. Bank of Montreal Can now owns 1,089,553 shares of the medical equipment provider’s stock worth $52,734,000 after buying an additional 760,312 shares in the last quarter. 96.45% of the stock is owned by institutional investors and hedge funds.

HOLX has been the subject of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $52.00 price objective on shares of Hologic in a research note on Thursday. Piper Jaffray Companies boosted their price objective on shares of Hologic from $49.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday. Canaccord Genuity reaffirmed a “hold” rating and set a $52.00 price objective on shares of Hologic in a research note on Thursday. Zacks Investment Research raised shares of Hologic from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Wednesday, May 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 price objective (up previously from $52.00) on shares of Hologic in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Hologic has an average rating of “Hold” and an average target price of $46.77.

About Hologic

Hologic, Inc, a medical technology company, develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States, Europe, the Asia-Pacific, and internationally. It operates in five segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical, and Skeletal Health.

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Earnings History for Hologic (NASDAQ:HOLX)

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